Tag Archives | Libyan Dinar

Tripoli Bans Imports to Halt Dinar Decline

Libya's Tripoli-basesd government has banned the import of 32 goods for six months, according to a report from Reuters. The ban includes cars, carpets, construction materials such as cement, fruit juices, energy drinks and harissa, a hot pepper paste. But the ban was intended to halt the decline of the dinar,  which is now trading […]

Dinar Headed for Fall?

The collapse in Libya's oil revenues has led to a major depletion of the country's foreign currency reserves, and could lead to a devaluation of the Libyan dinar, according to a report from Libya Herald. Over the past year, the currency has fallen from 1.25 to the dollar to 1.37, but on the black market […]

Husni Bey calls for Dinar Devaluation

Libyan entrepreneur Husni Bey has said the Central Bank should devalue the dinar due to the growing trade deficit. The head of the HB Group said "To balance the budget the Libyan dinar must be devalued to a minimum of 2.0 to the US dollar," much lower than the current exchange rate of 1.25 to […]

Deadline Extended for Old Banknotes

The Central Bank of Libya announced that the period for handing in older five- and ten-dinar banknotes has been extended to 30th May. The fourth and fifth series of the notes are being withdrawn from circulation; the series number is the first of the numbers on the front of the banknote. According to Libya Herald, […]

New Banknotes Soon to be Launched

The Central Bank of Libya (CBL) has announced that it will launch the new Libyan banknotes on the second anniversary of the 17 February Revolution, a delay from the initial plan of 31st January, according to Libya Herald. The total value of the new banknotes is understood to be LD 116 billion ($93 billion), made […]

CBL Begins Accepting ForEx Applications

The Central Bank of Libya has begun accepting applications for from businesses seeking permission to engage in currency exchange (ForEx) businesses. Applications can be submitted up to the 21st February. A number of offices and companies will then be selected according to the strategy of Bank. Further information (in Arabic) can be found here. (Sources: […]